Results 9,661-9,680 of 15,555 for speaker:Eoghan Murphy

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Mr. Gantly hasn't appeared yet.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: I was confused.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: If it's not a deliberate strategy then does it happen by accident? Is that the implication?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Okay, but the funding plan then was it a strategy, then, to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: I mean, it was deliberate. You made these decisions.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Sorry, when did that work begin? The working out-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: In 2003. And it continued right on until you left?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Okay. I mean ... looking back, then, was it complex enough to deal with the actual funding mix that you had and the different types of investments and the different type of lending?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Okay, thank you. And then just in terms of the loan-to-deposit ratio of the group, you found yourself in a more difficult position or a more precarious position than other entities in the system. I mean, how does that happen for the group?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Okay, and just to clarify, sorry, you shared your stress tests-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Did you share your stress tests results with the regulator? Was this work passed to them or was it something you kept in house?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: So you did say in your statement that you thought the regulator's ... was unbalanced in their approach to the banking sector.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Eoghan Murphy: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Fingleton. You are very welcome. I just want to go back to something that the Chair raised with you earlier on in relation to the NTMA and why they didn't place deposits with your society. And your answer was?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: But when Mr. McDonagh was asked that when he was before the committee, he never mentioned the ratings agencies.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: Well, I'll tell you what his reason was, as the NTMA.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: Yes. From page 93 of the transcript he said, "We won't place any deposit with INBS. ... They'll look for credit lines from us and we wouldn't give it to them. ... we just couldn't understand the business model"-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: -----"we just couldn't understand the business model". This is Mr. McDonagh.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Eoghan Murphy: "We took the view that really it's more trouble than it's worth to place €6 million on deposit with this institution when it really was a very opaque structure." So what do you say to that from the NTMA as to why they wouldn't place deposits?